Bombay stocks cooled Friday after a torrid weeklong rally.The BSE Sensex dropped 9 points to close at 12,030. Even so, they gained 7% on the week and set an all-time high Thursday. Satyam which dropped 7.3% despite a 36% rise in fourth-quarter profit. National Thermal Power dropped 2.2% and oil company Reliance gave up 2.1%. Ranbaxy led winners, rising 6.6% on reports of a research-and-development unit spinoff. Hindustan Lever rose 3% and Tata Motors ( TTM) added 2.7%. Infosys Technologies ( INFY - Get Report) gained 0.6% after buying out Citigroup's ( C - Get Report) 23% stake in its Progeon unit for $115 million. Tata Steel rose 1.6% on the news that the company may buy a chromite ore mine in South Africa.
More from Stocks
F5 Networks Shares Advance After Fourth-Quarter Results Beat Estimates
Revenue at the Seattle network-security and -optimization provider rose 4.9%.
Johnson & Johnson Confirms $4 billion 'Agreement in Principle' Opioid Settlement
Johnson & Johnson confirmed Wednesday that it will contribute $4 billion to a liability fund amid at redressing victims of the nation's opioid crisis, noting the payment will hive its previously-reported third quarter earnings.
Tesla Shares Soar After Company Turns Surprise Profit
Tesla slightly missed revenue estimates but managed its costs so well that it turned a surprise profit.
Q3 Earnings Are Starting to Send an Ominous Signal
Third-quarter earnings from highly cyclical companies provide a bad portent.